E AST C ENTRAL F LORIDA R EGIONAL P LANNING C OUNCIL ANNUAL - PDF document

E AST C ENTRAL F LORIDA R EGIONAL P LANNING C OUNCIL ANNUAL FINANCIAL REPORT Year Ended September 30, 2015

C O N T E N T S ________ Page Number FINANCIAL SECTION Independent Auditor’s Report 1 Management’s Discussion and Analysis 3 Basic Financial Statements: Government-wide/Fund Financial Statements: Statement of Net Position and Governmental Fund Balance Sheet 7 Statement of Activities and Governmental Fund Revenues, Expenditures, and Changes in Fund Balance 8 Notes to the Financial Statements 9 Required Supplementary Information: Budgetary Comparison Schedule - General Fund 15 Other Supplementary Information: Schedule of Revenues, Expenditures, and Changes in Fund Balance - General Fund 16 COMPLIANCE SECTION Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Go vernment Auditing Standards 17 Independent Auditor’s Report on Compliance for Each Major Federal Program and on Internal Control over Compliance and Report on Schedule of Expenditures of Federal Awards Required by OMB Circular A-133 19 Schedule of Findings and Questioned Costs 21 Schedule of Expenditures of Federal Awards 22 Independent Accountant’s Report 23 Independent Auditor’s Management Letter 24

INDEPENDENT AUDITOR’S REPORT Honorable Members of the East Central Florida Regional Planning Council Altamonte Springs, Florida Report on the Financial Statements We have audited the accompanying basic financial statements of the East Central Florida Regional Planning Council (the “Council”) as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Council’s basic financial statements, as listed in the table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and the general fund of the Council as of September 30, 2015, and the respective changes in financial position for the year then ended in conformity with accounting principles generally accepted in the United States of America. 1

Honorable Members of the East Central Florida Regional Planning Council Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and budgetary comparison schedule, as listed in the table of contents, be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial state- ments, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Council’s basic financial statements as a whole. The Schedule of Revenues, Expenditures, and Changes in Fund Balance (the “Schedule”), as listed in the table of contents, is presented for purposes of additional analysis and is not a required part of the financial statements. The Schedule is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. Such information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the Schedule is fairly stated, in all material respects, in relation to the basic financial statements as a whole. The Schedule has not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on it. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards , we have also issued our report dated June 29, 2016 on our consideration of the Council’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Council’s internal control over financial reporting and compliance . M OORE S TEPHENS L OVELACE , P.A. Certified Public Accountants Orlando, Florida June 29, 2016 2